Airlines to face pilot shortage with new rules

New federal mandates requiring pilots to have six times the current minimum of experience may trigger the most serious pilot shortage since the 1960s for U.S. airlines, just as thousands of pilots begin reaching the industry's mandatory retirement age of 65, according to Pacific Business News.

The Wall Street Journal also reports the federal mandates will require all newly-hired pilots to have at least 1,500 hours of flight experience, which will increase the cost and time it takes to train new pilots, while another federal safety rule that takes effect in 2014 will require airlines to give pilots more daily rest time, which is expected to force airlines to increase their pilot ranks by at least 5 percent.

Capt. John Silverman, a 64-year-old pilot for US Airways, told The Journal he is "extremely healthy" but will have to retire in April; and JetBlue Airways CEO Dave Barger recently said the industry is likely to face a critical shortage of pilots in the future.

The Journal also reported that many airlines already are expecting to have to hire thousands of new pilots, with Delta Air Lines needing 3,500 pilots in the next decade just to stay at current levels; American Airlines is expecting to hire 2,500 pilots in next five years; and United Continental Holdings is now hiring for pilots.